CNOOC Limited announced its highest-ever net production and net profit for the third quarter of 2024, crediting increased output from projects like the Payara development in Guyana.  CNOOC’s total net production in the first three quarters reached 542.1 million barrels...

ExxonMobil is gradually increasing production offshore Guyana reaching an average of 660,000 barrels per day (b/d). Liza 1 and 2 averaged approximately 160,000 b/d and 251,000 b/d, while Payara averaged 249,000 b/d. These production levels resulted in output of nearly...

Guyana’s maritime sector is poised for exponential growth alongside its burgeoning oil and gas industry, with a new generation of marine professionals stepping up to the challenge. Addressing the latest Marine Cadet Programme graduates from the MATPAL Marine Institute...

Guyana is set to witness the startup of its fourth oil development, Yellowtail—one of the largest investments ever made in the country. Priced at US$10 billion, this project is spearheaded by ExxonMobil and its Stabroek Block partners Hess and...

With nearly five years of oil production so far, Guyana has received more than US$5 billion in revenue from oil sales and royalties. With this new injection of revenue, the government has already withdrawn nearly half of this amount...

Stena Drilling will host its Guyana Vendor Day on November 13, 2024, at the Centre for Local Business Development Inc. (CLBD) in Georgetown.  The event aims to connect local businesses with Stena’s procurement team, offering insights into...

TOTALTEC Inc., a 100% Guyanese-owned company, has unveiled a new multi-sector e-learning platform aimed at equipping Guyanese workers with internationally accredited skills. The initiative targets key industries crucial to the country’s economic growth, including hospitality, construction, oil and gas,...

According to Norway-based Rystad Energy, the Floating Production Storage and Offloading (FPSO) market saw a 50% increase in investments in 2023, rising from US$6 billion to US$9 billion in greenfield surface capital expenditure. This upward momentum is expected to...

ExxonMobil’s Liza find back in 2015 unlocked a treasure trove of oil and gas discoveries in Guyana’s Stabroek Block. Now, in 2024, the number stands at 45 discoveries and Exxon aims to take this even higher.  “I believe Guyana will...

Saipem's FDS2 vessel has successfully wrapped up its pipelay and subsea construction work for ExxonMobil's Yellowtail Project offshore Guyana, achieving a milestone of 180 consecutive “Perfect Days.” This accomplishment means 180 days without any injury, asset damage, or environmental...